REGISTERED COMPANY NUMBER: 08236220 (Engtand and Wales) REGISTERED CHARITY NUMBER: 1154143 REGISTERED SCOTTISH CHARITY REGULATOR NUMBER: 80045615
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 October 2020 for
DEMENTIA RESEARCH UK {A COMPANY LIMITED BY GUARANTEE)
DEMENTIA RESEARCH UK
Contents of the Financlal Statements for the year andad 31 October 2020
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Page
Reference and Administrative Detalla 1
Report of the Trustees 2 to 4
Independent Examiner's Report fs)
Statement of Financlal Activities 6
Balance Sheet 7
Notes to the Financlal Statements 8 to 12
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DEMENTIA RESEARCH UK
Reference and Administrative Datalis
for the year ended 31 October 2020
Trustees
Mrs M Evans Ms W P Laybourn Ms T Thompson
Company secretary
Ms W P Laybourn
Registered office
Registered office 207 Regent Street London W1B 3HH Registered company number 08236220 (England and Wales) Registered charity number 4164143
Independent examiner
Haines Watts Chartered Accountants 178 Buckingham Avenue Slough Berkshire SL1 4RD
Bankers Unity Trust Bank 4 Brindley Place Birmingham Bi 2JUB
Page 1
DEMENTIA RESEARCH UK
Report of the Trustees
for the year ended 31 October 2020
:
The trustees (who are also directors for the purposes of the Companies Act 2006) present thelr report with the financial statements of the charity for the year ended 31 October 2020. The Trustees have adopted the provisions of Accounting and Reporting by Charitles: Statement of Recommended Practice applicable to charities preparing thelr accounts In accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 4 January 2016).
Structure, Governance and Management
a. Constitutlon
The company Is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 2 October 2012.
The company is constituted under a Memorandum of Association dated 2 October 2012 and Is registered with the charitles commission number 1154143 and Scottish Charity Regulator SCO45615.
b. Method of appolntment or election of trustees
The management of the company Is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The trustees who served during the period were as follows:
Trustes
Margaret Evans Wendy Layboum Tracey Thompson
Objectives and activities
a. Policles and objectives
The memorandum and articles of association defines the objectives of the charity.
To protect ard promote the health of the public In particular by research Into the nature, causes, diagnosis, prevention, treatment and care of ail forme of dementia, Including the development of findings of research into the practical applications for the prevention and treatment of dementia and care of those suffering from dementia and In furtherance of that primary object, to provide Information and raise public awareness and understanding of such matters.
b. Activitles for achlaving objectives
The charity carries out these objectives by funding research related to the treatment and cure of dementla and related diseases. The research funded is both pure and applied. Pure research has the ultmate alm of eradicating the disease while applied research Is almed at Improving the lives of dementia sufferers and thelr carers.
c. Pubile benefit
The Trustees confirm that they have referred to the guidance contained In the Charity Commission's general guidance on public benefit when reviewlng the charity's alms and objectives and in planning future activities.
Achievements and performance
a. Golng concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue In operational existence for the foreseeable future. For thls reason, they continue to adopt the going concern basis In preparing the financial statements. Further detalls regarding the adoption of the golng concern basis can be found in the accounting policles and the statement of the Impact of Covid-19 below.
Page 2
DEMENTIA RESEARCH UK
Report of the Trustees
for the year ended 31 October 2020
b. Review of activities
In the current financial year ending 31st October 2020, Incoming resources totalled £295,227 (2019 - £306,501) resulting from voluntary donations, legacies and glft ald. Fundralsing expenses totalled £122,647 (2019 - £109,471) providing a surplus of £172,579 before governance costs of £4,030. A total of £163,486 was allocated to charitable activitles (grants £144,000) giving se to a surplus for the year of £5,063. Adding thls surplus to unrestricted funds brought forward of £4,982 provides the balance of unrestricted funds carrled forward totalling £10,045.
The charity has malntained Its Income during the national Covid-19 pandemic together with Its support for research projects, at levels simifar to the previous year. In funding research, the charity recognises the need to undertake pure research with the alm of alleviating and eventually eradicating the disease, but It alao recognises the needs of those suffering from dementia and the research needed to Improve the quallty of their lives. Applied research, undertaken to help those on the dementia Joumey, is centred on care and compassion. This type of research examines patterns of care In order to meet appropriate and ever-changing neads together with the use of relevant, up-to-date aaslstive technology. Furthermore, with dementla now among the leading causes of death In the UK, research Into the provision of endof-life care Is also a high priority for the charlty.
The Dementia Research Centre based at The National Hospital for Neurology and Neurosurgery has been the principal reciplent of the charity's grants for pure research. The work of the Research Centre, situated within University College London, focuses on Identifying the disease processes that cause dementia, with a view to understanding the factors that Influence those processes in order to flnd ways to Improve diagnosis and treatment. A grant of £50,000 has been awarded for this year (2049 - £100,000).
Applied research grants are made in recognition of the fact that significant Improvements In quality of Ife can be achleved when people with dementia are seen as having a number of partially remediable disabilities, rather than an ill-defined mix of Irreversible cerebral Incompetencies that Is so often assumed. A number of Dementia Services Development Centres (DSDCs) have been established which promote thls concept. The DSDC was orginally developed at Stirling Untversity and the charity has continued to award grants to this university to support DSDCs in Scotland and Northern Ireland (Belfast), together with a grant to Bangor University, to support the DSDC In Wales. Grants of £5,000 were made to each location (2019 - £1,000) and these will continue. The DSDC in England, Trent Dementia, ls in receipt of an annual grant, currently £24,000, dsing to £30,000 In 2021.
The DSDCs are active In the provision of services, advice, social and practical support, events and peer support groups for people {living with dementla, thelr families and carers. Research Is carled out Into the needs of local people with dementia, which Is used to develop new and Innovative services. Through such research and ongoing conversations with dementia patients, thelr familias and carers, the DSDCs are well positioned to uncover areas of unmet need In order to Improve the day to day lives of people with dementia both now and In the future.
The Research Institute for the Care of Older People (RICE) Is an Internationally renowned dementia research and treatment centre located at the Roya! United Hospital In Bath. RICE Is an independent organisation focused on essential research Into dementia and the provision of support for people with dementia, thelr familles and carers, Research into all dementias and the connections between them continues to be critical, as a growing, agelng population develop increasingly complex needs. A grant of £5,000 was awarded to RICE In the year under review.
Dementia Is among the leading causes of death In the UK but the extent and avallability of endof- life care for dementia patients Is variable and Inconsistent. The Cicely Saunders institute based at Kings College London Is a centre for research into the provision of end-of-life care in the UK. A grant of £60,000 has been awarded to the Institute (2019 - £60,000) to assess the cost and avaliabliity of end-of-life care for dementia patients, together with the potential for improving access to such care throughout the UK.
Financlal review and future plans
The trustees are satisfied with the financial position at the year ended 34st October 2020 and the financial performance described above. Total Income for the year ended 31st October 2020 has once again exceeded forecasts based on prior years, thls year Increasing by over 100%, thereby allowing for further growth in activity for funding research and this trend Is expected to continue.
a. Reserves policy
The trustees review reserves regularly in order to ensure that the charity Is In a position to meet all its current and anticipated future commitments.
Page 3
DEMENTIA RESEARCH UK
Report of the Trustees
:
for the year ended 31 October 2020
b. Plans for the future
A key focus for the charity In 2020 was a review of its infrastructure, processes and resources In order to Identify areas of opportunity to enhance the charity's relationships and communications with donora, beneflclarles and other stakeholders.
The trustees recognise the need to develop and expand the charity, while maintaining Its grantglving programms. To that end, a growth plan for the charity has been developed with the key objectives of creating new sustalnable income streams, together with new forms of communication with donors, prospects, beneficiaries and other stakeholders and creating a revised infrastructure required to support the charity's growth.
c. The Impact of Covid-19
Dementia patients and thelr carers face a range of special challenges, many of which have become more acute during the coronavirus pandemic. The trustees recognise these challenges and thelr consequences.
The charity benefits from a relatively simple Infrastructure which has enabled It to continue fundralsing throughout the pandemic without having to cut costs, reduce activity resulting from lockdown restrictions, or scale back on Its grant-glving programme. The charity is therefore able to reassure its donors and stakeholders that It Is well placed to continue to meet Its objectives and to support Its beneficiaries In challenging times.
Small company provisions
in preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Structure, govamance and management Governing document The charity is controlled by Its governing document, a deed of trust, and constitutes a Ilmlted company, limited by Approvedguarantee, byas order defined of theby board the Companies oftrustees Act on2006.elon...— and gigned on Its behalf by:
vin WE Laybourn Sesriem
Page 4
Independent Examiner's Report to the Trustees of Dementla Research UK
Indapendent examiner's report to the trusteas of Damentla Research UK (the Company’) t report to the charlty trustees on my examination of the accounts of the Company for the year ended 31 October 2020.
Responsibilities and basls of report
As the trustees of the Company (and also Its directors for the purposes of company law) you are responsiblefor the preparation of the accounts In accordance with the requirements of the Charitles and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the Company are not required by charity or company law to be audited and have chosen Instead to have en Independent examination.
Having satisfled myself that the accounts of the Company are not required to be audited under Part 16 of the 2008 Act and are ellglble for Independent examination, | report In respect of my examination of the Company's accounts camled out under section 44 (1) (c) of the 2005 Act and section 145 of the Charitles Act 2011 (‘the 2014 Act). In carrying out my examination | have followed the requirements of Regulation 11 of the Charities Accounts (Scotiand) Regulations 20068 (as amended) and the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examlner's statement SInce the Company |s required by company law to prepare Its accounts on an accruals basis and Is registered as a chanty In Scotland your examiner must be a member of a body listed In Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). | can confirm that ! am quallflad to undertake the examination because | am a registered member of (CAEW which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connectlon with the examination giving me cause to believe:
-
accounting records were not kept In respect of the Company as required by sectlon 386 of the 2006 Act; or 2. the accounts do not accord with those records with the accounting requirements of Regulation 6 of the Charitles Accounts (Scotland) Regulations 2006; or the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and falr view which Is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (appilcable to charltles preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Repubile of Ireland (FRS 102)).
| have no concerns and have come across no other matters In connection with the examination to which attentlon should be drawn In this report In order to enable a proper understanding of the accounts to be reached.
Jane Wills MA FCA ICAEW Haines Watts Chartered Accountants 178 Buckingham Avenue Slough Berkshire SL1 4RD
Date: RANMA cose
Page 5
Statement of Financlal Actlvitles
:
DEMENTIA RESEARCH UK
for the year ended 31 October 2020
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|---|---|---|---|---|
|ae|
|2020|2019|
|Unrestricted|
|fund|Total|funds|
|Notes|£|£|
|{ncome|and|endowments|from|
|Donations and|legacies|2|296,227|306,504|
|Expenditure|on|
|Ralsing funds|3|422,647|109,471|
|Charitable|activitles|4|
|Governance costs|4,644|2,940|
|Charitable|activities|162,873|493,705|
|Total|290,164|306,116|
|NET INCOME|§,083|385|
|Reconclilation|of funds|
|Total funds|brought forward|4,982|4,697|
|Total funds|carried forward|10,045|4,982|
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The notes form patt of these financial statements
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Page 6
DEMENTIA RESEARCH UK
Balance Sheet
31 October 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | |||
| Notes | fund £ |
=‘Totalfunds £ |
|
| Current assets | |||
| Debtors | 10 | 17,846 | 73,184 |
| Cash In hand | 26,768 | 47,100 | |
| 44,613 | 420,284 | ||
| Creditors | |||
| Amounts fallingduewithinoneyear | 4 | (34,568) | (115,302) |
| Netcurrant assets | 10,045 | 4,982 | |
| Total assots less current Ilabllitles | 10,046 | 4,982 | |
| NETASSETS/(LIABILITIES) | 10,045 | 4,982 | |
| Funds | 12 | ||
| Unrestricted funds | 10,045 | 4,982 | |
| Totalfunds | 10,045 | 4,982 |
The charitable company Is entitled to exemption from audit under Sectlon 477 of the Companies Act 2006 for the year ended 31 October 2020.
The members have not required the company to obtain an audit of Its financial statements for the year ended 31 October 2020 In accordance with Section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(bo) preparing financial statements which give a true and falr view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financlal year In accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Compantes Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financtai statements have been prepared In accordance with the provisions applicable to charitable companies subject to the small companies regime.
The,NCRfinancial Sodstatementsoe andwere were signedapproved on itsby behalfthe by:Board of Trustees and authorised for Issue on
WP Laybourn- Trustee
The notes form part of these financial statements
Page 7
DEMENTIA RESEARCH UK
Notes to the Financial Statements
for the year ended 34 October 2020
- Accounting policies
Basls of praparing the financial statements
The financial statements of the charitable company, which Is a public benefit entity under FRS 102, have been prepared In accordance with the Charltlobs SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitles preparing their accounts {n accordance with the Financial Reporting Standard applicabie In the UK and Republic of treland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financia! Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2008. The financial statements have been prepared under the historical cost convention.
Golng concern
The financial statements have been prepared on a going concern basis, which assumes that the company will continue In operational existence for the foreseeable future which the directors balleve to be appropriate.
The Covid-19 outbreak Is not expacted to have a significant financial Impact on the charity In the next financlal year (2019/20). The trustess will continue to monitor the situation and are ready to consider how best to respond to any emerging Issue as yet unforeseen.
Company Status
The company |s a company limited by guarantees. The members of the company are the Trustees named on page 1. in the event of the company being wound up, the llabliity in respact of the guarantee Is limited to £1 per member of the company.
Income
All Income Is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, It Is probable that the income wil! be recelved and the amount can be measured rellably.
Expenditure
Llabilitles are recognised as expenditure as soon as there Is a legal or constructive obligation committing the charity to that expenditure, It is probable that a transfer of economic benefits will be required In settlement and the amount of the obligation can be measured reliably. Expenditure Is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity Is exempt from corporation tax on Its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arlse when specified by the donor or when funds are raised for particular restricted purposes,
Financlal Instruments
Financial assets and financtal liabilities are recognised In the balance sheet when the company becomesa party to the contractual provisions of the Instrument.
Trade and other debtors and creditors are classified as basic financial Instruments and measured at Inittal recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective Interest rate method. A provision Is established when there is objective evidence that the company will not be abie to collect all amounts due.
Cash and cash equivalents are classified as basic financial Instruments and comprise cash In hand and at bank which are an Integral part of the company's cash management.
Financial llabliltles and equity Instruments Issued by the company are classifled in accordance with the substance of the contractual arrangements entered Into and the definitions of a financial tlabillty and an equity Instrument.
Page 8
DEMENTIA RESEARCH UK
Notes to the Financlal Statements - continued
for the yaar ended 34 October 2020
1. Accounting pollcles - continued
Financial Instruments
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|An|equity|Instrument|is|any|contract|that|evidences|a|residual|Interest|In|the|assets|of|the|company|after|
|deducting|all|of|Its|llabllities.|Equity|Instrumente|Issued|by|the|company|are|recorded|at|the|proceeds|received,|
|net|of|direct|issue|costs.|
|2.|Donatlone and legacles|2026|2019|
|£|£|
|Donations|135,377|162,940|
|Legacies|169,850|143,661|
|295,227|306,501|
|3.|Ralsing|funds|
|Ratsing|donations|and|legacies|
|2020|2019|
|£|£|
|Direct|mall|costs|122,647|109,474|
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4, Charitable activities costs
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|---|---|---|---|---|---|---|
|Grant|
|funding|of|
|Direct|activities|Support|
|Costs|(sae|{see|note|costs|(see|
|note|5)|6)|note|7)|Totals|
|£|£|£|£|
|Governance|costs|"|-|4,644|4,644|
|Charitable|activites|15,590|144,000|3,283|162,873|
|15,690|144,000|7,927|167,517|
|5.|Direct|costs|of charitable|activities|
|2020|2019|
|£|£|
|Sundries|4,684|-|
|Education|13,906|12,163|
|15580|(42,463|
|8.|Grants|payable|
|2020|2019|
|£|£|
|Charitable|activities|144,000|177,000|
|The fotal|grants|pald|to institutions|during|the year was as|follows:|
|2020|2019|
|£|£|
|Grants to|Institutlons|144,000|177,000|
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Page 9
DEMENTIA RESEARCH UK
Notes to the Financlal Statements - contlnued
for the yaar ended 31 October 2020
7. Support costs
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|||||||
|---|---|---|---|---|---|
|Governance|
|Finance|Other|costs|Totals|
|£|£|£|£|
|Governance|costs|.|.|4,644|4,644|
|Charitable|activities|792|2,491|~|3,283|
|792|2,491|4,644|7,927|
|Net Incoma/(expanditura) Incoma/(expanditura)|
|Net|Income/(expenditure)|Is|stated|after|charging/(crediting):|
|2020|2019|
|£|£|
|Independent|examiner's remuneration|-|2,040|
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8. Net Incoma/(expanditura) Incoma/(expanditura)
9. Trustees’ remuneration and benefits
There were no trustees’ remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees’ expenses
There were no trustees’ expenses pald for the year ended 31 October 2020 nor for the year ended 31 October 2019. 10. Debtors: amounts falilng due within one year amounts falilng due within one year falilng due within one year due within one year within one year one year year 2020 2019
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|---|---|---|---|---|---|---|
|10.|Debtors: amounts falilng due within one year amounts falilng due within one year falilng due within one year due within one year within one year one year year|2020|2019|
|£|£|
|Other|debtors|17,845|67,045|
|Prepayments|-|6,139|
|17,845|73,184|
|41.|Craditors:|amounts|falllng due|within|one|year|
|2020|2019|
|£|£|
|Trade|creditors|34,568|41,302|
|Accruals|for grants payable|-|104,000|
|34,588|116,302|
|412.|Movement|In funds|
|Net|
|movement|At|
|At|1/41/19|In funds|31/10/20|
|£|£|£|
|Unrestricted funds|
|General|fund|4,982|5,063|10,045|
|TOTAL FUNDS|4,982|5,063|10,045|
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Page 10
DEMENTIA RESEARCH UK
Notes to the Financla! Statements - continued
for the year endad 31 October 2020
12. Movement In funds - contInued
Net movement In funds, Included In the above are as follows:
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|296,227|(290,184)|6,063|
|TOTAL FUNDS|295,227|(290,164)|5,063|
|Comparatives|for movement|In funds|
|Net|
|movement|At|
|At|1/11/48|In funds|31/10/19|
|£|£|£|
|Unrestricted funds|
|General|fund|4,597|385|4,982|
|TOTAL FUNDS|4,597|385|4,982|
|Comparative|net movement|in funds,|Included|In the above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|In funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|306,501|(306,118)|385|
|TOTAL FUNDS|306,501|(308,146)|385|
|A current|year|12 months|and|prior year|12 months|combined|position|Is as follows:|
|Net|
|movement|At|
|At|1/14/18|In funds|31/10/20|
|£|£|£|
|Unrestricted|funds|
|General|fund|4,597|5,448|10,045|
|TOTAL FUNDS|4,597|5,448|10,045|
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Page 11
DEMENTIA RESEARCH UK
for the yaar ended 31 October 2020
Notes to the Financial Statements - continued
iE
12. Movement In funds - continued
A current year 12 months and prior year 12 months combined net movement In funds, Included In the above are as follows:
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incoming Resources Movement
resources expended In funds
£ £ £
Unrestricted funds
General fund 601,728 (596,280) 5,448
TOTAL FUNDS 601,728 (696,280) 5,448
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13. Related party disclosures
There were no related party transactions for the year ended 31 October 2020.
14. Controlling party
The trustees make up the membership of the charitable company. There is no overail controlling party.
Page 12